Frisch Financial Group Inc. Buys 1,686 Shares of Visa Inc. (NYSE:V)

Frisch Financial Group Inc. increased its stake in shares of Visa Inc. (NYSE:V) by 74.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,958 shares of the credit-card processor’s stock after acquiring an additional 1,686 shares during the quarter. Frisch Financial Group Inc.’s holdings in Visa were worth $1,039,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Livelsberger Financial Advisory bought a new position in Visa during the fourth quarter valued at $25,000. Westend Capital Management LLC bought a new position in Visa during the first quarter valued at $25,000. POM Investment Strategies LLC lifted its position in Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock valued at $28,000 after purchasing an additional 97 shares during the last quarter. Frank Rimerman Advisors LLC bought a new position in Visa during the fourth quarter valued at $33,000. Finally, TruNorth Capital Management LLC lifted its position in Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock valued at $34,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Macquarie restated an “outperform” rating and issued a $300.00 target price on shares of Visa in a report on Wednesday, July 24th. Evercore ISI lowered their target price on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Jefferies Financial Group reduced their price target on shares of Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Royal Bank of Canada reduced their price target on shares of Visa from $315.00 to $311.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 24th. Finally, William Blair raised shares of Visa to a “strong-buy” rating in a research note on Tuesday, July 23rd. Six research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Visa has an average rating of “Moderate Buy” and an average price target of $309.81.

Visa Stock Up 1.1 %

Shares of Visa stock opened at $290.52 on Tuesday. The firm’s 50 day moving average price is $268.78 and its 200-day moving average price is $273.21. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Visa Inc. has a 52-week low of $227.78 and a 52-week high of $290.96. The company has a market cap of $529.42 billion, a P/E ratio of 32.46, a PEG ratio of 2.01 and a beta of 0.96.

Visa (NYSE:V) last released its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 EPS for the quarter, hitting analysts’ consensus estimates of $2.42. The company had revenue of $8.90 billion during the quarter, compared to analysts’ expectations of $8.92 billion. Visa had a net margin of 54.72% and a return on equity of 51.94%. Visa’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period last year, the business earned $2.16 EPS. On average, sell-side analysts predict that Visa Inc. will post 9.92 EPS for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio (DPR) is presently 23.24%.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of Visa stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the sale, the chief executive officer now directly owns 538 shares in the company, valued at approximately $148,687.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by company insiders.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.